Mitsubishi Electric to cut 2,000 jobs by end of March

Jan. 16, 2002 – Tokyo, Japan – Mitsubishi Electric Corp. will eliminate 2,000 jobs at domestic factories by the end of March due to weak demand for semiconductor products, a spokesman said.

The nation’s third largest electrical equipment maker originally planned to reduce 1,000 jobs in the year to March 2002 and an additional 1,000 jobs by March 2003, but decided to move the restructuring forward, reported Agence France Presse.

“We decided to accelerate our measures to lift us out of the current (information technology) slump as soon as possible,” said the spokesman, who declined to be named.

The job cuts will only affect workers with temporary contracts lasting several months.

The firm employs a combined 11,000 full-time staff and contract workers on a consolidated basis in Japan, the spokesman said.


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